CIP commences construction on 300 MW solar projects in the USA
Copenhagen Infrastructure Partners (CIP) has announced that it has commenced construction on the Misae and Sage solar photovoltaic (PV) projects on behalf of the Copenhagen Infrastructure III (CI III) fund. The projects represent the first of CIP’s approximately 1.1 GWac US solar portfolio to achieve such milestone and are the first large scale solar projects in the company's renewable energy portfolio.
The Misae solar PV project involves the development of a 240 MWac solar park located approximately six miles east of the city of Childress, Texas. Jinko (U.S.) Inc. will be supplying mono-crystalline solar panels for the project and M.A. Mortenson Company will be responsible for construction and ongoing maintenance services.
In addition, the project has entered into a power price hedge with a financial institution, which is one of the first of such hedges to be signed for a solar project. The project is expected to secure third-party tax equity funding.
Misae is planned to begin commercial operations in the fourth quarter of 2019. Once operational, the solar park is expected to generate enough clean energy to power nearly 60,000 houses per year.
The Sage project involves the installation of a 58 MWac solar PV system in Rich County, Utah. The project was acquired by CIP – on behalf of CI III – from a local developer in April 2017 as part of a larger portfolio. CIP has since completed development and pre-construction activities.
RES America Construction Inc. (RES) will be responsible for engineering, construction and procurement. First Solar, Inc. will be supplying solar modules and providing ongoing operation and maintenance services. Once operational, the project will benefit from a long-term power purchase agreement with PacifiCorp subsidiary, Rocky Mountain Power.
Sage is planned to begin commercial operations in August 2019. Once operational, the project is expected to generate enough clean energy to power nearly 14,000 houses per year.
